The Future of Mobile Purchasing and Banking in 2011 – Smart Phone Electronic Retail Transactions

You are able to pick up any Mag on Banking, E-Commerce, Accounting, Economics, or Finance and see articles on online banking and online ventures. There are so many companies out there looking to provide online consumer banking solutions, and mobile savings it is hard to state which organizations will dominate. Right now it’s somewhat of the free-for-all. amazon seller turbotax

Meanwhile companies like CitiGroup, and North american Express have International Us patents on such technologies everything from integrating loyalty programs and rewards cards with ATM and credit cards transactions via mobile mobile phones to offering discounts and GPS alerts to the user’s favorite retailers. 

This really is a fast moving expansion sector right now, and it would be a great place for IT professionals looking for work as gov departments are reducing the number of IT agreements and thus, many organizations may need to layoff folks. A little bit ago, I was discussing this with a gentleman who had a 15-year IT career in the telecommunication industry and he was considering releasing a start-up and moving into the internet banking sector due to the enhanced demand in mobile ventures.

The other day My spouse and i was reading a fascinating article titled “RIM, Carries Battle Over Digital Wallet” by Phred Deorak and Stuart Weinberg in the Wall membrane Street Journal – it seems the sport is changing, as consumers will be buying everything using their Smart Cell phones via electronic transfers. Apple, Google, Blackberry, and more are teaming up with AT&T, Verizon, and Sprint in america to deliver the services for the next generation of point-of-sale electronic smartphone transactions using the SIM Credit cards as verification for the retailer’s computer system. Since the article discussed the “war is on” and the stakes are high, but the ability is abundant for all specifically IT specialists.

Meanwhile, there are issues with Sales Tax earnings collection via Internet sales in the United Claims and it seems in my experience that this whole concern with Amazon. com and the sales-taxes is heading to prevent them from being as competitive as they have been in the past but not charging the tax. Amazon . com has received the advantage over Wal-Mart, Target, and the major big-box bookstore suppliers, but that will eventually change, as the court docket battles are stacking up and Amazon will have to use the better part of valor, foresight, and bow out of those lengthy and costly legal challenges.

This will likely also open the door for much more retailers; large rock and mortar and online companies to do deals via smart phones, and the authorities will have to approve this because they too want an item of the action – the sales tax revenues. Certainly, I’d say these are tremendously interesting times for online mobile banking and mobile payments. It’s a huge field and with incredible potential.